Infosys Q3 Net Profit up 16.6% YoY, Revenue guidance raised

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Biznextindia: Infosys, India’s 2nd largest software exporter, on Wednesday reported 16.6 per cent year-on-year (YoY) rise in net profit at Rs.5197 crore in the October-December quarter. The Rupee revenue grew by 13.3 per cent YoY to Rs. 25927 crore. The Bangaluru headquartered company has raised FY21 revenue growth guidance to 4.5%-5.0% in constant currency while increasing operating margin guidance to 24.0%-24.5%. Basic EPS was Rs. 12.25, growth of 16.5% YoY and 7.3% QoQ.

“The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry. The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys. The commitment and skills of our employees to support and drive the digital journey of clients are matters of great pride for me. With the intense focus on client needs and the comprehensive foundation built on differentiated capabilities, I remain confident about the future” said Salil Parekh, CEO and MD.

• Q3 revenues grew year-on-year by 12.3% in INR; grew by 6.6% in constant currency

• Digital revenues cross 50% of total revenue, year-on-year growth of 31.3% in constant currency

• Q3 operating margin at 25.4%, year-on-year increase of 350 bps

• Robust Q3 net profit at `5,197 crore, year-on-year growth of 16.6%

• Continued strong Q3 free cash flow at `5,683 crore; year-on-year growth of 19.4%; FCF conversion at 109.0% of net profit

• Q3 voluntary attrition for IT services declined to 10.0% from 15.8% in Q3 20

• Year-to-date revenues grew by 3.5% in constant currency

• Year-to-date operating margin at 24.5%, an expansion of 310 bps

• FY 21 revenue growth guidance increases to 4.5%-5.0% in constant currency

• FY 21 operating margin guidance increases to 24.0%-24.5%

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